Cornerstone Investment Partners LLC Reduces Stock Position in JPMorgan Chase & Co. (NYSE:JPM)

Cornerstone Investment Partners LLC cut its stake in JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 18.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 147,967 shares of the financial services provider's stock after selling 32,702 shares during the quarter. JPMorgan Chase & Co. comprises approximately 1.8% of Cornerstone Investment Partners LLC's holdings, making the stock its 29th largest holding. Cornerstone Investment Partners LLC's holdings in JPMorgan Chase & Co. were worth $36,296,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Redwood Park Advisors LLC purchased a new stake in shares of JPMorgan Chase & Co. in the fourth quarter worth approximately $29,000. Curat Global LLC bought a new position in JPMorgan Chase & Co. in the 1st quarter valued at $33,000. Sellwood Investment Partners LLC bought a new position in JPMorgan Chase & Co. in the 4th quarter valued at $34,000. Investment Counsel Co. of Nevada purchased a new stake in JPMorgan Chase & Co. in the fourth quarter worth $37,000. Finally, Prudent Man Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. during the fourth quarter worth $43,000. 71.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Phillip Securities cut shares of JPMorgan Chase & Co. from a "moderate buy" rating to a "hold" rating in a report on Wednesday. Citigroup set a $275.00 target price on shares of JPMorgan Chase & Co. and gave the stock a "buy" rating in a research note on Monday, July 7th. KGI Securities started coverage on shares of JPMorgan Chase & Co. in a research report on Sunday, April 13th. They set a "hold" rating on the stock. Royal Bank Of Canada set a $305.00 price target on JPMorgan Chase & Co. and gave the company an "outperform" rating in a report on Monday, June 30th. Finally, Hsbc Global Res cut JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research note on Tuesday, July 8th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $288.68.

Insiders Place Their Bets

In related news, General Counsel Stacey Friedman sold 2,821 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $265.71, for a total value of $749,567.91. Following the completion of the transaction, the general counsel directly owned 68,757 shares of the company's stock, valued at $18,269,422.47. This trade represents a 3.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jeremy Barnum sold 40,014 shares of JPMorgan Chase & Co. stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $250.77, for a total transaction of $10,034,310.78. Following the completion of the sale, the chief financial officer owned 18,017 shares of the company's stock, valued at $4,518,123.09. This trade represents a 68.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,200 shares of company stock valued at $18,060,015. 0.47% of the stock is owned by corporate insiders.

JPMorgan Chase & Co. Stock Up 0.5%

NYSE:JPM traded up $1.32 during midday trading on Friday, reaching $291.22. 12,202,625 shares of the stock traded hands, compared to its average volume of 9,528,081. The stock has a market capitalization of $809.33 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 2.59 and a beta of 1.10. JPMorgan Chase & Co. has a 12-month low of $190.90 and a 12-month high of $296.40. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.89 and a current ratio of 0.88. The business has a 50-day moving average of $273.91 and a two-hundred day moving average of $257.56.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a return on equity of 16.93% and a net margin of 20.52%. The business had revenue of $44.91 billion for the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the prior year, the firm posted $6.12 earnings per share. The business's quarterly revenue was down 10.5% on a year-over-year basis. On average, equities analysts forecast that JPMorgan Chase & Co. will post 18.1 earnings per share for the current fiscal year.

JPMorgan Chase & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 3rd will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, July 3rd. JPMorgan Chase & Co.'s dividend payout ratio is currently 28.73%.

JPMorgan Chase & Co. Company Profile

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.